Leading Australian property developer Crown Group has announced three of the four buildings at its new project Waterfall by Crown Group will be completed in 2019 and the first residents will move in to the new community next year.

Located in Waterloo and comprising 331 luxury apartments across four buildings with a mix of restaurants, cafes and shops, Waterfall by Crown Group is set to become a vibrant and diverse community in Sydney's inner suburbs.

The innovative new development includes a 20-storey tower designed by award-winning Sydney-based architects SJB, featuring an Infinity rooftop pool with a sky garden and terrace, a recreational deck, a secluded bamboo-covered walkway, state-of-the-art cantilevered gym, a rooftop garden, a rooftop cinema, function room with a catering kitchen and music room with grand piano.

"We are so proud to bring Waterfall by Crown Group to Sydney" said Crown Group Chairman and Group CEO Iwan Sunito.

"With Waterfall by Crown Group, we are creating a new urban hub; a unique community where people can meet, connect, learn, relax and play together, enjoying an enriched community life in this growing suburb" he added. Sydney's new "hotspot”, Waterloo is undergoing rapid population growth and seeing increased government investment in infrastructure, including the new underground Waterloo Metro Station scheduled to open in 2024.

According to Australian Bureau of Statistics, Waterloo's current population of 14,616 is predominantly of working age; 64.5 percent aged between 20-49 years old and 54 percent defined as working as professionals or managers. The total population of Waterloo has increased 37 percent in the past five years.

Mr Sunito said Waterloo's proximity to the city offers future residents great convenience while a culturally diverse community provides locals with access to a rich community life.

Waterfall by Crown Group will be located at 18 O'Dea Avenue Waterloo, four kilometres from Sydney's Central Business District.

"The NSW government is paving the way for new homes, shops, major transport services, community facilities, parks, and open spaces in this upcoming precinct over the next 20 years" said Mr Sunito.

"With dramatic changes to infrastructure Waterloo has become one of the most sought-after suburbs for first home buyers and investors" he added.

Above the new metro station, an area to be known as "The Waterloo Metro Quarter” bounded by Botany Road and Cope, Raglan and Wellington streets, has been integrated into the approved Metro station design.

Located just 1 km from the site of Waterfall by Crown Group, the innovative Green Square Library is due to open to public in August 2018, featuring underground library facilities and an above-ground public plaza.

Within the Green Square Town Centre, the Gunyama Park Aquatic and Recreation Centre featuring an aquatic centre, multipurpose sports field and landscaped areas, is due for completion in early 2020, while a range of community and cultural buildings and parks are under-construction nearby.

The up-and-coming suburb has experienced considerable growth in property values evidenced by the median sales price for two-bedroom units, which has increased 7.6 percent annually in the past five years, according to recent RP Data.

The average annual rental yield in Waterloo in June 2018 was 4.4 percent, higher than some nearby suburbs with average annual rental yields of 3.7 percent, according to RP Data.

A premium range of Waterfall by Crown Group apartments is now available for sale ranging from $699,000 to $1,881,000.

For more information, please visit www.crowngroup.com.au/waterfall or call 1800 001 880.